MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, March 15, 1999 Fidelity Picks Citibank as Muni Fund Custodian Citibank Worldwide Securities Services (WWSS) has been appointed by Fidelity Investments to provide custodial services for its municipal bond and money market portfolios. Citibank WWSS will service 36 Fidelity municipal funds with total assets valued at $35 Billion. The announcement accompanies recent mandates for custody awarded to Citibank by Dimensional Fund Advisors (DFA), Janus, OppenheimerFunds, Inc. and Aid Association for Lutherans (AAL). The package of services that Citibank will provide include: securities safekeeping for US municipal fixed income securities; transaction processing; custodial reporting and income and corporate action processing. The service team supporting Fidelity will be headquartered in Citibank's new, state-of-the-art service center in Tampa, Florida. The Tampa facility opened in May of 1998 to serve the North and Latin American regions. It is one of four regional securities processing centers, along with Dublin, Singapore and Lewisham (England). "Citibank is delighted to work with Fidelity," said Sandy Jaffee, Citibank WWSS' division executive. "This opportunity recognizes the investments we are making to enhance our custody platform in the U.S., which is a high priority market for us." Printed from: MFWire.com/story.asp?s=24682 Copyright 1999, InvestmentWires, Inc. All Rights Reserved |